Volatility brings mixed fortunes at Credit Suisse

CEO Brady Dougan says 2015 has continued where 2014 left off in investment banking – with volatility boosting trading but hampering underwriting

By

Vivek Ahuja

February 12, 2015 Updated: 4:54 p.m. GMT

Credit Suisse CEO Brady Dougan on Thursday said volatility since the start of 2015 has hampered the bank's underwriting and advisory businesses, continuing the tone set in the fourth quarter last year, when volatility sparked by a rapid drop in oil prices boosted trading but hit underwriting activity.

Dougan, in a statement accompanying the Swiss banking group's fourth-quarter and full-year results, said: "Year-to-date profitability of the group is in line with last year. Our private banking and sales and trading businesses...